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Jan 18, 2013
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people are now saying if debt ceiling is taken care of or deferred we don't have much to worry about. i think we have a little cold shower if we're looking at the economic growth forecast that involved major cuts whether it's sequestration, short-term government shutdown. i'm not an alarmist about what is going none d.c. but i feel like what we've done is the consensus has really been oscillating between over anticipating terrible things from d.c. to under anticipating them. i think we are in the latter situation right now. >> michael, it is joe. we may or may not next week get the announcement of a dell deal or potentially the deal falls through. what type of impact do you see in terms of sentiment on the overall s&p there would be if an actual deal is to occur or if it falls apart? >> i think it has to be followed by others. i think i actually feel like it is a one off thing. people are obviously eager to see something get done. you want to see the capital markets be able to achieve what on paper seems like an obvious deal. a company that probably should be private. and so i do thi
people are now saying if debt ceiling is taken care of or deferred we don't have much to worry about. i think we have a little cold shower if we're looking at the economic growth forecast that involved major cuts whether it's sequestration, short-term government shutdown. i'm not an alarmist about what is going none d.c. but i feel like what we've done is the consensus has really been oscillating between over anticipating terrible things from d.c. to under anticipating them. i think we are in...
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Jan 18, 2013
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as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. -- defaults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. t
as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game...
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Jan 18, 2013
01/13
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supposed to be crushed, absolutely annihilated about worries of the upcoming debt ceiling, and decimated, laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jel sandwiches, pbjs, rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, climbing 12%, double where we were not that long ago. while analysts were determined to tell you the housing is about to go tepid. numbers don't fit into the scenario, not a negative one and that's the story of the market right now the bullish facts are getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one -- sell, sell, sell! this feels like a moment like the mid-1980s where the bulls are in control, ala boeing today. it seems like when i was a young, curly haired kid. at goldman sachs. calling them rich people. f
supposed to be crushed, absolutely annihilated about worries of the upcoming debt ceiling, and decimated, laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jel sandwiches, pbjs, rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, climbing 12%, double where we were not that long ago. while...
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Jan 18, 2013
01/13
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where we saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very good revenue comes from india gee of fee. but some of those moves that will happen by the government and therefore the decision for investment and therefore there is a little bit of uncertainty. that is a big reason why we have given a guidance of .5% to 3% in large range. >> suresh -- >> based on the deal plan that we have, we feel that -- what? >> so just to be clear, you're basically saying just so people know what we're talking about, the guide kwans for the current quarter was between 1.2% and 3.5%. you came in at 2.4% revenue growth. your guidance for the next period
where we saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very good revenue comes from india gee of fee. but...
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Jan 18, 2013
01/13
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that of course is bumping against and going through the debt ceiling. you know, when the president had his press conference discussing this i always like a good food analogy. his analogy was of course by not raising the debt ceiling we're not paying for the food we've eaten. basically at this big dinner we're at. i like it. let me give it a little slant my style. that is, it's not really a restaurant but an all you can eat buffet. there is no bill coming. the senate and house haven't passed a budget together in years. we have a revolving credit, a tab at this all you can eat buffet and nobody wants to get up. it is not like there is a clock where boom. here is your bill. we'll start the next 24 hours like your charting machines. nobody is ever getting up. it's just a meal that never ends. so how do you in essence stop the eating, stop the debt that is created by running up the tab? well, it seems easy enough but of course it gets messy and the politics are different than the principles involved. the house republicans seem to have finally figured that ou
that of course is bumping against and going through the debt ceiling. you know, when the president had his press conference discussing this i always like a good food analogy. his analogy was of course by not raising the debt ceiling we're not paying for the food we've eaten. basically at this big dinner we're at. i like it. let me give it a little slant my style. that is, it's not really a restaurant but an all you can eat buffet. there is no bill coming. the senate and house haven't passed a...
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Jan 18, 2013
01/13
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and that debt ceiling crisis may be delayed until the spring. the house is reportedly getting set to vote on a three-month extension until next week and what that does is sets up a big fight on budget and spending cuts which could embroil the economy and stock market in a new round of uncertainty but it kicks that can down the road, so is that why stocks are a bit tempered today? we'll take a look at that. the dow right now up 12 points. we are flirting with those five and a half year highs, 13,610 and change would be that five and a half year high so we're just pleau that right now. the nasdaq down another eight points at the moment at 3127 and technology among the groups suffering today. the s&p, again, here we go again. any positive close for the standard & poor's 500 would be another five and a half year high for the s&p. let's take a closer look at the markets in today's closing bell exchange with our guests. andres, you and i were talking about the markets earlier. what do you think? getting ahead of ourselves with the rallies we've had so
and that debt ceiling crisis may be delayed until the spring. the house is reportedly getting set to vote on a three-month extension until next week and what that does is sets up a big fight on budget and spending cuts which could embroil the economy and stock market in a new round of uncertainty but it kicks that can down the road, so is that why stocks are a bit tempered today? we'll take a look at that. the dow right now up 12 points. we are flirting with those five and a half year highs,...
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Jan 18, 2013
01/13
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[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am happy that you have been carrying on this kind of conversation over the last few years. let me try and see if i can put something in context for you -- i think that is something we never really talk about. a lot of this fiscal cliff stuff is really smoke and mirrors -- when you sit back and realize the largest portion of the debt of this country is really three things -- one is two wars we never paid for, what is a medicare part that we never paid for, and the other part is the bush tax cuts. those of the largest portions of the debt of this nation. what they're trying to do now by cutting what y
[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am...
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Jan 18, 2013
01/13
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he's refusing to negotiate, so if the gop ties the debt ceiling to the current budget battle. listen to this. >> republicans and congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state of california, arnold schwarzenegger. good morning to you. >> good morning. nice to be here again. >> brian: he sends a warning to the republicans should they back off or take on the president? >> first of all, i think i find it interesting that when you want to have more money, if you go to any financial institution, they say look, i can't pay my bills, i need more money. they want to see their payment plan. how are you going to live responsible from here on? then you can get more money. so i don't understand that why this should not be a part of the discussion because it ought to be. i think ameri
he's refusing to negotiate, so if the gop ties the debt ceiling to the current budget battle. listen to this. >> republicans and congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state...
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Jan 18, 2013
01/13
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ceiling on time and prior to that preferably and reaching agreement on medium-term debt reduction. that i mentioned earlier. for the nonadvanced economies, and i'm putting together the emerging markets as well as the low income countries, clearly those countries are faring at a much better pace in terms of growth. but everywhere i've traveled in the last two months in africa, in latin america and in asia there's always been a concern about the unbalances and the lack of decisive action to address the advanced economies' crisis. so this spillover effect including in terms of confidence building are clear. and given those, this increasing interconnectedness -- particularly with certain markets -- reducing this uncertainty is going to be key to the health of the global economy and to a lot of those regions that are still very dynamic to continue to grow at a pace that is sustainable and necessary for the well being of their population. this is excessively too general because when you go down the list of the emerging market economies and the low income country, some of them are much mo
ceiling on time and prior to that preferably and reaching agreement on medium-term debt reduction. that i mentioned earlier. for the nonadvanced economies, and i'm putting together the emerging markets as well as the low income countries, clearly those countries are faring at a much better pace in terms of growth. but everywhere i've traveled in the last two months in africa, in latin america and in asia there's always been a concern about the unbalances and the lack of decisive action to...
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Jan 18, 2013
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there is a big debate in the coming weeks as we get to this debt ceiling debate. talk to me, from your perspective, about this notion of compassionate conservatism. there was a movement 12 years ago to present that as an alternative. what happened to that? >> i would be glad to go down that road but i do not think it is useful. to gently develop a real understanding of how to break through at every level, housing, learning, jobs. and who i always told people, as showered with more african- americans than most republicans knew, had a deep, passionate commitment with every american he met. his heart was big. he did love everybody, to a point where it drives you crazy. you think, slightly less love, jack, it is ok. the use of it by the bush people was a political slogan to show they are softer than the gingrich republicans. they did not think through any serious, systematic program. i want to commend you. sitting here, i had two ideas, sufficiently radical, that would never have occurred without this[applause] i did not say right or left. i just said radical. [laught
there is a big debate in the coming weeks as we get to this debt ceiling debate. talk to me, from your perspective, about this notion of compassionate conservatism. there was a movement 12 years ago to present that as an alternative. what happened to that? >> i would be glad to go down that road but i do not think it is useful. to gently develop a real understanding of how to break through at every level, housing, learning, jobs. and who i always told people, as showered with more...